I backup my Imac into an Apple Time Capsule and was wandering if I could backup the Apple Time Capsule into and external HD just as a safety measure, if this is possible what is the best way
No that's not really the best way if you want other copy of your backup. If you are running Mountain Lion then you can use Time Machine to back up to multiple hard disks. Just plug in the external drive to the iMac and have it do a Time Machine backup to that external drive as well as the Time Capsule.
I have my time machine hooked up to a partition on a external raid 5 drive and also copy cloner backing up on another hard drive in case my SSD should fail.
There is a way to install it under Mountain Lion, but there used to be a feature with exactly what you're looking for to archive it to an external USB drive.
Which is what is in the previous version of AirPort Utility.
You can manually drag and drop the sparsebundle image over to another drive though.
No that's not really the best way if you want other copy of your backup. If you are running Mountain Lion then you can use Time Machine to back up to multiple hard disks. Just plug in the external drive to the iMac and have it do a Time Machine backup to that external drive as well as the Time Capsule.
There is a way to install it under Mountain Lion, but there used to be a feature with exactly what you're looking for to archive it to an external USB drive.
Which is what is in the previous version of AirPort Utility.
You can manually drag and drop the sparsebundle image over to another drive though.